Ocular Therapeutix (NASDAQ:OCUL) Share Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Ocular Therapeutix shares crossed above their 50‑day moving average — the 50‑day MA is $9.00, the stock traded as high as $9.84 and last at $9.77 on volume of about 2.81 million shares.
• Analysts are broadly bullish with 12 Buys, 1 Hold and 1 Sell, an average rating of "Moderate Buy" and an average price target of roughly $23.78.
• Fundamentals remain mixed: market cap ≈ $2.13B and a slight EPS beat last quarter, but revenue fell 22.4% YoY and the company reports a large negative net margin; a director recently purchased 60,229 shares while insiders have net sold in the last 90 days.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $9.00 and traded as high as $9.84. Ocular Therapeutix shares last traded at $9.77, with a volume of 2,808,980 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OCUL. Needham & Company LLC decreased their price objective on shares of Ocular Therapeutix from $20.00 to $18.00 and set a "buy" rating for the company in a report on Friday, February 20th. Chardan Capital reiterated a "buy" rating and set a $21.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 18th. HC Wainwright reiterated a "buy" rating and set a $21.00 price objective on shares of Ocular Therapeutix in a report on Monday, April 13th. Citigroup reiterated an "outperform" rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.78.

Ocular Therapeutix Stock Up 3.6%

The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11. The firm has a market cap of $2.13 billion, a PE ratio of -6.78 and a beta of 0.93. The business's 50-day simple moving average is $9.00 and its 200 day simple moving average is $10.56.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.04. The business had revenue of $13.25 million for the quarter, compared to the consensus estimate of $16.13 million. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The company's revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.29) EPS. As a group, equities research analysts expect that Ocular Therapeutix, Inc. will post -1.29 earnings per share for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Sanjay Nayak sold 10,348 shares of the firm's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $9.04, for a total transaction of $93,545.92. Following the transaction, the insider owned 332,412 shares of the company's stock, valued at approximately $3,005,004.48. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard L. Md Lindstrom bought 60,229 shares of the business's stock in a transaction on Friday, February 20th. The shares were acquired at an average cost of $7.66 per share, for a total transaction of $461,354.14. Following the transaction, the director directly owned 246,933 shares in the company, valued at approximately $1,891,506.78. This trade represents a 32.26% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 191,766 shares of company stock worth $1,704,946. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Citigroup Inc. grew its holdings in Ocular Therapeutix by 574.4% in the third quarter. Citigroup Inc. now owns 673,348 shares of the biopharmaceutical company's stock worth $7,871,000 after purchasing an additional 573,504 shares during the last quarter. Vanguard Group Inc. grew its holdings in Ocular Therapeutix by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company's stock worth $107,118,000 after purchasing an additional 771,065 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new position in Ocular Therapeutix in the third quarter worth $2,360,000. Avoro Capital Advisors LLC grew its holdings in Ocular Therapeutix by 38.5% in the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company's stock worth $119,822,000 after purchasing an additional 2,850,000 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB purchased a new position in Ocular Therapeutix in the third quarter worth $2,361,000. Institutional investors own 59.21% of the company's stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company's flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.

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